Fund Description

The fund was incepted in October 1981 and is managed by FRIMCo. The fund seeks preservation of capital and the generation of current income by investing primarily in fixed-income securities with low-volatility characteristics. The fund holds fixed income securities issued or guaranteed by the US government and, to a lesser extent by non-US governments, or by their respective agencies and instrumentalities. It also holds mortgage-backed securities, including collateralized mortgage obligations. The fund also invests in corporate debt securities and dollar-denominated obligations issued in the US by non-US banks and corporations (Yankee Bonds). A majority of the fund's holdings are US dollar denominated. The fund may invest up to 10% of its assets in debt securities that are rated below investment grade. The fund distributes dividends quarterly and net capital gains annually.